Lehman's First Bankruptcy Payout: $22.5 Billion

Lehman Brothers Holdings Inc. on Wednesday said it will distribute about $22.5 billion to creditors starting next week, more than double the minimum estimate given for its first series of payouts.

In a filing with U.S. Bankruptcy Court in Manhattan, Lehman laid out the percentages of recoveries that each of its class of creditors will get with the first distribution, which will begin April 17. In February, at the time Judge James Peck of U.S. Bankruptcy Court in Manhattan approved Lehman's request to use noncash assets...